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The Reds boss has paid the price for a poor start to the new season with the club 10th in the Premier League table with 12 points from eight matches,Owners Fenway Sports Group informed the 42-year-old of their decision following today’s 1-1 draw with Everton in the Merseyside derby at Goodison Park.

In a joint Fenway Sports Group statement, principal owner John W Henry, chairman Tom Werner and president Mike Gordon said: “We would like to place on record our sincere thanks to Brendan Rodgers for the significant contribution he has made to the club and express our gratitude for his hard work and commitment.

“All of us have experienced some wonderful moments with Brendan as manager and we are confident he will enjoy a long career in the game.“Although this has been a difficult decision, we believe it provides us with the best opportunity for success on the pitch. Ambition and winning are at the heart of what we want to bring to Liverpool and we believe this change gives us the best opportunity to deliver it.

“The search for a new manager is underway and we hope to make an appointment in a decisive and timely manner.”

Rodgers took over from Kenny Dalglish in June 2012 after a successful spell at Swansea City, who he had got promoted into the Premier League

In his first season at Anfield the Reds finished seventh but in 2013/14 they kicked on and came within two points of ending the club’s 24-year wait for a 19th topflight title.Inspired by the brilliance of Luis Suarez, the Reds scored 101 league goals and collected 84 points.

However, their hopes of glory were dashed by a home defeat to Chelsea as Manchester City took the silverware.

Following the sale of Suarez to Barcelona, Rodgers’ reign went off the rails. Last season Liverpool finished sixth and a miserable campaign ended with a humiliating 6-1 defeat at Stoke.

FSG kept faith with Rodgers and allowed him to spend £80million on new players but now the plug has been pulled.